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It has been a busy few weeks for the Skyline Retail REIT, as it has recently purchased two properties in two new Ontario communities.
The Skyline Retail REIT just announced a 15% increase in the value of its Unit Price from $10.00 to $11.50 per Unit, and a 12.5% increase in the annual Distribution rate from $0.80 to $0.90 per Unit.
On Friday, September 18th, 2015, the Skyline Retail REIT purchased its second property in Windsor, ON, at 4140-4150 Walker Road. The property's anchor tenants are Dollar Tree and Canadian Tire. The property was purchased for $8.4 million and has 21,916 square feet of retail commercial space.
On Friday, July 31st, 2015, the Skyline Retail REIT acquired its first property in the town of Listowel, ON. The property at 210 Wallace Avenue North was purchased for $6.35M and includes 13,514 square feet of commercial space, with Shoppers Drug Mart as the tenant.
On Wednesday, April 13th, 2015, the Skyline Retail REIT purchased its second property in the town of Port Elgin, ON. The property at 260 Goderich Street features a Dollar Tree, Harvey's, Swiss Chalet, and a children's play centre. The property comprises 14,725 square feet of retail commercial space, and had a total purchase price of $3.1 million.
On Monday, December 1, 2014, Skyline Retail REIT purchased a 6-property portfolio comprised of Goodlife Fitness Centers across Ontario. In doing so, it entered six new Ontario communities, many of which are already home to Skyline Apartment REIT and Skyline Industrial REIT properties.
On Monday, August 18, 2014, the Skyline Retail REIT acquired a plaza at 893-895 10th Street in Hanover, ON - the REIT's second property in Hanover. The plaza had a purchase price of $9.5 million, and has over 25,000 square feet of commercial space, with the LCBO and Shoppers Drug Mart as tenants.
These properties added a variety of new national brand name tenants to the REIT, including Dairy Queen, Harveys and Starbucks. The REIT also entered three new communities: Port Elgin, St. Mary's, and Alliston.
On Tuesday, June 17th, 2014, Skyline Retail REIT purchased a retail plaza at 4115 Walker Road in Windsor, ON.
On Wednesday, February 26th 2014, Skyline Retail REIT acquired 295 King Street in Midland, ON. Located in downtown Midland, the property had a purchase price of $3.75M and 14,104 square feet of commercial space.
The new Skyline Retail REIT has recently made its first two acquisitions since the portfolio launched in late 2013.
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